I assume you mean a bank is not* going to lend you 100%.You...

I assume you mean a bank is not* going to lend you 100%.

You still have to take into account the rest of the money we need to get, you can't base the calculations around 60% of the funding because we need 100% of the funding, wherever it comes from.

As above, if it comes from pre selling production at a discount, that will take away from future cash flows in your calculation.

How have your calculations gone James?